Les études qui se sont intéressées aux performances du secteur du capital-investissement européen montrent toutes que ces dernières sont nettement inférieures à celles enregistrées par leurs homologues anglo-saxons. On a recherché pendant longtemps à identifier les déterminants de...

Building on Huang and Xu's (2003) financial syndication model, we model syndication for expertise, and examine its impact on post-investment, venture capitalist involvement. We compare the performances of financial versus expertise motives on the decision to finance innovation.

In The Trade Cycle, Roy Harrod [1936a] propounded the Law of Diminishing Elasticity of Demand. The present paper tries to clarify the precise role Harrod assigned to this law in order to understand his trade cycle theory. We discuss the micro and macro foundations of the Law of Diminishing...

In a 1958 article, Pierre Dieterlen refers to a 'triumvirate' in order to qualify the team formed in France during the Poincaré stabilization by Emile Moreau, Governor of the Banque de France (BDF), Charles Rist, Professor at La Sorbonne and Deputy-Governor and Pierre Quesnay, his former PhD...

This article proposes to analyze the syndication strategies of the French venture capital firms and to compare them with their European and North-American counterparts. Syndication is a strategy allowing investors to improve their performances for instance through risk-sharing-based and...

Venture capital firms are known as specific financial intermediaries, providing not only funds but also expertise to innovative projects. This paper analyses the consequences venture capital investments syndication for an expertise motive can have on investment decisions and on post-investment...

La question de l’incorporation des phénomènes cycliques dans un cadre analytique en termes d’équilibre a longtemps été considérée comme une question à la fois fondamentale et controversée jusqu’à ce que, au début des années 1970, Lucas propose une solution à ce dilemme....

Using a sample of 212 IPOs, this paper analyzes the impact of venture capital involvement on the survival time of French IPOs. We find that the ability of venture capitalists to improve the survival of companies is related to the duration of their investment. We show that venture capitalists do...

Using a sample of 212 IPOs, this paper analyzes the impact of venture capital involvement on the survival time of French IPOs. We find that the ability of venture capitalists to improve the survival of companies is related to the duration of their investment. We show that venture capitalists do...